Mining company Conroy Diamonds and Gold has raised a total of €264,000 by way of a subscription of 8.8 million new ordinary shares with private client stockbrokers.
Conroy said it intends to use the proceeds of the placing to fund its ongoing programme at its resource at Clontibret, Co Monaghan, which has so far led to the discovery of in excess of 1 million ounces of gold.
In addition to the subscription of ordinary shares, Wills & Co will be issued with 400,000 shares at a price of 3.75p per share in lieu of £15,000 of fees for the provision of research and access to Conroy's subscriber database.
³Our primary focus is the delineation and development of our gold discoveries in Ireland and these monies will allow us to move the projects forward, quite significantly," said Prof Richard Conroy, chairman of the company.
Following the admission of the shares to trading on AIM, the Company will have a total of 114,888,297 shares in issue.
Application has been made to the London Stock Exchange for the shares to be admitted to trading on AIM and it is expected that admission will become effective and trading will commence on Friday, the company said.
